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Wim Duisenberg, first President of the ECB. The European Central Bank is the de facto successor of the European Monetary Institute (EMI). [7] The EMI was established at the start of the second stage of the EU's Economic and Monetary Union (EMU) to handle the transitional issues of states adopting the euro and prepare for the creation of the ECB and European System of Central Banks (ESCB). [7]
The question of supervising the European banking system arose long before the financial crisis of 2007-2008.Shortly after the creation of the monetary union in 1999, a number of observers and policy-makers warned that the new monetary architecture would be incomplete, and therefore fragile, without at least some coordination of supervisory policies among euro members.
The Supervisory Board is composed of a Chair, appointed for a non-renewable term of five years; a Vice Chair, chosen from among the members of the ECB's Executive Board; four members directly appointed by the ECB, known as ECB representatives; and representatives of national competent authorities. If the national supervisory authority ...
The European Central Bank will announce the outcome on Thursday of an 18-month strategy review, redefining a inflation target seen by some as confusing and laying down what role it can play in the ...
The General Council performs the tasks which the ECB took over from the EMI and which, owing to the derogation of one or more member states, still have to be performed in Stage Three of Economic and Monetary Union (EMU). The General Council also contributes to: ECB's advisory functions; Collection of statistical information
European Union leaders are set to start bargaining over top EU institution jobs after the European Parliament election concluded on Sunday with gains for the centre-right and far-right. EUROPEAN ...
The European Central Bank unveiled plans on Thursday to take greater account of climate change in its key monetary policy decisions, the latest in a series of steps by the world's biggest central ...
The ECB's monitoring regime includes conducting stress tests on financial institutions. [34] If problems are found, the ECB will have the ability to conduct early intervention in the bank to rectify the situation, such as by setting capital or risk limits or by requiring changes in management.
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